News

Pet care at select Walgreens stores could be tip of iceberg for retail pharmacy industry

BY Antoinette Alexander

The Boston Herald has reported that Walgreens is expanding its partnership with Florida veterinary company, ShotVet, to offer pet care services, such as vaccines and micro-chipping, at select stores in Massachusetts.

People love their pets and, just as people are taking a more proactive role in their own health care, they also are taking a greater interest in the health of their furry children. This is bound to spell greater opportunities for retail pharmacies, which are already wading deeper into the prescription pet medication market.

Just look at the numbers. The American Pet Products Association reported earlier this year that pet spending is higher than ever, with an estimated $58.5 billion projected for 2014, a 4.9% growth over 2013.

The Association noted that veterinary care demonstrated significant growth in 2013, with $14.4 billion in spending, second only to food category spending. While the number of veterinary visits is down, spending on care is rising and is estimated to reach $15.3 billion in 2014, up 6.1% from 2013.

“Both food and veterinary care are strongly influenced by consumers’ growing interest in improved health care for their pets. Health- and wellness-related themes represent the most powerful trends across all segments of the industry and will continue to do so again this year,” said Bob Vetere, president and CEO of the American Pet Products Association, in announcing the results.

And, as any pet parent will tell you, such care typically doesn’t come cheap. By providing such services at select Walgreens locations, ShotVet is not only aiming to improve access, but also cut costs. According to the Boston Herald article, the cost is reportedly about 70% cheaper than the cost of a traditional vet clinic.

Is this something the chain drug industry could see more of? Perhaps.

According to a DSN online poll, more than half of respondents believe that pet clinics have the potential to expand as retail clinics have expanded.

keyboard_arrow_downCOMMENTS

Leave a Reply

George Kindley says:
Jun-04-2015 05:51 am

It's a great article. I am really quite impressed by your research on growth rate of veterinarian services. The result reveals that the awareness among people for pet care has increased as compared to the previous years. Pets are also sensitive and seek for special care and being an owner we needed to take special care of them. A veterinarian check-up is mandatory for the safety of pets. We need to vaccinate them and also need to consult the vet in regular intervals.

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Actavis confirms patent challenge for generic Butrans

BY Ryan Chavis

DUBLIN — Actavis on Friday confirmed that it has filed an abbreviated new drug application with the Food and Drug Administration to market buprenorphine transdermal system, a generic version of Butrans from Purdue Pharma. The drug is used for the treatment of severe pain. 
 
Purdue Pharma filed suit against the company on Sept. 24 to prevent it from commercializing the product before the expiration of certain U.S. patents. Actavis believes it may be a "first applicant" to file an ANDA for generic Butrans. If its ANDA is approved, the company may be entitled to 180 days of marketing exclusivity. 
 
Butrans had U.S. sales of $158 million for the 12 months ending July 31, according to IMS Health data. 
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Mars promotes seasoned leaders

BY Ryan Chavis

MCLEAN, Va. — Mars on Friday announced a number of leadership changes, which include the departure of Todd Lachman, current president of the company's global pet care division. 
 
Lachman, who has been with the company eight years, will be leaving at the end of 2014 to relocate his family to San Francisco. Poul Weihrauch has been named as his successor, effective Jan. 1. Weihrauch is currently global president of Mars Food and also has accountability for Mars drinks and European multisales. He has been with Mars for 14 years, working in multiple categories.
 
Mars also announced the following appointments: 
 
  • Fiona Dawon, currently regional president of Chocolate UK and global retail, will step into the role of global president, Mars Food. She began her career with the company in sales in 1988 as a graduate trainee.
  • Andrew Clarke, currently regional president petcare for Latin America, will become Mars new chief customer officer and a member of the Mars leadership team, effective February 15. 
  • Bruce McColl, Mars' CMO is being made a member of the Mars leadership team. Bruce joined Mars in 1992 in Australia as a brand manager. 
"We are thrilled to have such great talent within the organization and proud of the growth that these leaders have demonstrated over the years," said Grant Reid, office of the president, Mars. "These great leaders have an average of more than 19 years of experience in leadership at Mars, and they are a testament to how well our development programs at Mars works."
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?